Union Budget 2026 reflects India’s economic backslide, claims CPIM leader Jitendra Chaudhury. He criticises revenue shortfalls, corporate bias, weak agricultural support, declining investments, and failure to provide relief to common people and states.
CPIM Tripura State Secretary and Leader of the Opposition Jitendra Chaudhury on Sunday launched a sharp critique of the Union Budget 2026, claiming that it clearly reflects the country’s ongoing economic backslide and fails to address the concerns of common people.
Reacting to the Union Budget tabled by the central government, Chaudhury said the outcome was predictable given the government’s past record. According to him, the budget once again relied heavily on attractive slogans and exaggerated claims rather than concrete measures aimed at economic revival and public welfare.
“Considering the previous performance of the central government, it was evident well in advance that this budget would offer little relief to ordinary citizens,” Chaudhury said. “Like earlier years, the budget speech was filled with catchy punchlines and ambitious statements without any substantial roadmap. In reality, it has turned out to be a hopeless budget.”
The CPIM leader argued that the revised budget figures themselves exposed the weaknesses in the government’s economic planning. He claimed that the initial projections for revenue generation under various heads failed to meet expectations, ultimately impacting overall expenditure and public spending.
“The revised estimates reveal that the government could not achieve its own targets in revenue mobilisation. As a result, both spending capacity and developmental expenditure have suffered,” Chaudhury stated.
He further alleged that the Union Budget 2026 does not offer any fresh direction for key sectors such as agriculture, social welfare, and other areas directly linked to public interest. According to him, sectors that require urgent attention amid rising inflation and unemployment have been largely ignored.
“In crucial areas like fertiliser subsidy and irrigation, the budget does not present anything impressive or reassuring. Farmers, who are already under pressure due to rising input costs and uncertain market conditions, have been left disappointed once again,” he claimed.
Chaudhury accused the central government of framing a budget that largely favours corporate interests while neglecting the needs of the masses. He alleged that policies such as corporate loan waivers continue, while common people are burdened with high excise duties on essential commodities.
“This government follows a policy of writing off corporate loans but penalising ordinary citizens through heavy taxes on essentials like fuel. This imbalance reflects the anti-people nature of the budget,” he said.
The CPIM leader also raised concerns over declining investment trends in both the public and private sectors. According to him, reduced investment has a direct impact on employment generation and economic growth, further worsening the situation for young job seekers.
Chaudhury pointed out that even newly enacted schemes, including VBGRAMG, appear to shift part of the financial burden onto state governments without adequate central support. “Even in schemes where states are expected to shoulder additional responsibilities, the budget does not provide any meaningful financial backing,” he remarked.
He also highlighted issues related to Goods and Services Tax (GST) collections, stating that many states failed to come close to the targets fixed at the beginning of the financial year. According to him, this shortfall further exposes structural weaknesses in the country’s fiscal management.
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“The gap between projected and actual GST collections shows that the economy is not performing as claimed. States are struggling, and the budget offers no credible solution to this problem,” Chaudhury added.
Concluding his remarks, the CPIM leader asserted that the Union Budget 2026 neither addresses economic slowdown nor provides relief to farmers, workers, or the middle class. Instead, he said, it reinforces policies that deepen inequality and economic distress across the country.
